WorldCat Identities

Duval, Romain

Overview
Works: 32 works in 116 publications in 1 language and 910 library holdings
Roles: Author, Other
Classifications: QC903, 530
Publication Timeline
.
Most widely held works by Romain Duval
The retirement effects of old-age pension and early retirement schemes in OECD countries by Romain Duval( )

9 editions published in 2003 in English and held by 81 WorldCat member libraries worldwide

This paper examines the impact of old-age pension systems and other social transfer programmes on the retirement decision of older males in OECD countries. For each of the 55-59, 60-64 and 65+ age groups, a new panel dataset (22 OECD countries over 1969-1999 or shorter periods in some cases) of retirement incentives embedded in those schemes is constructed for an illustrative worker. The main focus is on the implicit tax rate on working for five more years, which sums up various dimensions of retirement incentives such as the pension accrual rate but also, to a lesser extent, the availability and generosity of benefits. There is currently wide dispersion across OECD countries in implicit tax rates on continued work embedded in old-age pension and early retirement schemes: they are high in most Continental European Countries, compared with Japan, Korea, English-speaking and Nordic countries. Simple cross-country correlations and panel data econometric estimates both show that
Coping with ageing : a dynamic approach to quantify the impact of alternative policy options on future labour supply in OECD countries by Jean-Marc Burniaux( )

12 editions published between 2003 and 2004 in English and held by 80 WorldCat member libraries worldwide

In the face of the substantial ageing of population expected to occur in OECD countries over coming decades, policies that boost labour-force participation attract considerable interest. There remain large cross-country divergences in participation rates that are largely accounted for by differences in participation of specific groups, in particular prime-age women, older workers and also youth. This suggests that policies targeting these groups could have important effects. The aim of this paper is to examine whether the potential impact of several policy reforms is able to attenuate or to offset the adverse trend in aggregate participation rates that would otherwise occur because of ageing population. It uses a simple dynamic modelling framework that generates longer-term projections of participation rates and labour supplies in OECD countries and alternative scenarios of policy reforms. The main outcome of this analysis is that the combined effect of possible reforms targeting
Long-Run GDP Growth Framework and Scenarios for the World Economy by Romain Duval( )

10 editions published in 2009 in English and held by 79 WorldCat member libraries worldwide

This paper develops and applies a simple "conditional growth" framework to make long-term GDP projections for the world economy, taking as a starting point recent empirical evidence about the importance of total factor productivity and human capital in explaining current cross-country disparities in GDP per capita levels. Other distinct features of the projection framework include human capital projections by cohorts and implicit allowance for the impact of ageing and potential labour market and pension reforms on future growth in employment levels. In the baseline projection, world GDP would grow in PPP terms by about 3 3/4 % per year on average over the period 2005-2050. When expressed in constant market exchange rates, taking into account future Balassa-Samuelson effects, this projection falls roughly in the middle of the range of long-run scenarios recently developed in the context of greenhouse gas emission projections. The sensitivity of the projection to total factor productivity and population growth assumptions is significant, however, and compounds with deeper sources of uncertainty such as model and parameter uncertainty
Oil Price Shocks, Rigidities and the Conduct of Monetary Policy : Some Lessons from a New Keynesian Perspective by Romain Duval( )

8 editions published in 2008 in English and held by 79 WorldCat member libraries worldwide

The strong and sustained rise in oil prices observed in recent years poses a challenge to monetary policy and its ability to simultaneously achieve low inflation and stable output. Against this background, the paper studies monetary policy in a small open economy New Keynesian DSGE model including oil as a production input and a component of final demand. It investigates the performance of alternative price level definitions, notably headline and core CPI, in standard interest rate rules with respect to output and inflation stabilisation. The analysis puts special emphasis on the impact of price and real wage rigidity and their interaction on the policy trade-off induced by the oil price shock. While the degree of price rigidity alone is found to have little impact on the shock transmission and generates only small differences between alternative monetary strategies, the simulations suggest a more important role for real wage stickiness. Real wage stickiness triggers second round effects and complicates stabilisation whatever the policy rule. A focus on core inflation tends to limit the contraction of output in this context. The results also point to some interaction between nominal price and real wage rigidities. In the presence of real wage rigidity, greater price flexibility is found to be destabilising, as it amplifies the initial inflation effect of shocks, thereby triggering a stronger monetary policy response and a larger output effect
The economics of climate change mitigation : policies and options for global action beyond 2012 by Organisation for Economic Co-operation and Development( )

7 editions published between 2008 and 2009 in English and held by 72 WorldCat member libraries worldwide

This paper examines the cost of a range of national, regional and global mitigation policies and the corresponding incentives for countries to participate in ambitious international mitigation actions. The paper illustrates the scope for available instruments to strengthen these incentives and discusses ways to overcome barriers to the development of an international carbon price, based on the quantitative assessment from two global and sectorially-disaggregated CGE models. Key step towards the emergence of a single international carbon price will most likely involve the phasing out of subsidies of fossil fuel consumption and various forms of linking between regional carbon markets, ranging from direct linking of existing emission trading systems to more indirect forms through the use of sectoral crediting mechanisms. The paper discusses regulatory issues raised by the expansion of emission trading and crediting schemes as well as the complementary contribution of non-market based instruments such as the imposition of technical standards and R & D policies. Finally, the paper emphasises the important role of international transfers, not least to overcome the relatively strong economic incentives in some countries to free ride on other regions mitigation actions. While they can take various explicit or implicit forms, transfers made primarily through market mechanisms, for instance via the allocation of binding emission reduction commitments across countries, would be most cost-effective
Assessing the OECD Jobs Strategy : Past Developments and Reforms by Nicola Brandt( )

9 editions published in 2005 in English and held by 69 WorldCat member libraries worldwide

In 1994, the OECD published a set of recommendations -- known as the OECD Jobs Strategy -- to deal with high and persistent unemployment that affected many member countries. These recommendations are currently being reassessed by the OECD and this paper contributes to this process. It provides a detailed description of labour market reforms in member countries over the past ten years, together with a short overview of changes in macroeconomic policies and reforms affecting product markets. It attempts to rank countries according with their past reform efforts, using an aggregate reform intensity indicator, and analyses the link, though in a very preliminary way, between reforms and labour market performance. Overall, there is little evidence of a link between initial conditions and subsequent reform efforts, with some countries taking only modest measures despite a poor starting point, while others carrying out ambitious programs even though their initial conditions were already relatively favourable. Over the past decade, member countries have employed very diverse reform strategies, from comprehensive reforms package (Denmark, Finland and the Netherlands) -- as recommended in the initial Jobs Strategy -- to reforms more narrowly targeted on specific fields where deep action was undertaken (France, Italy, the United Kingdom and Ireland). The intensity of reforms has differed markedly across policy fields, with more action being undertaken in areas that are more widely accepted by the population, such as active labour market policies and cuts of labour taxes. Please note that annexes are available on the Economics Department Website at: www.oecd.org/eco/Working_Papers
Raising potential growth after the crisis : a quantitative assessment of the potential gains from various structural reforms in the OECD area and beyond by Romain Bouis( )

7 editions published in 2011 in English and held by 68 WorldCat member libraries worldwide

This paper provides an illustrative assessment of the impacts on potential GDP over a 5 to 10-year horizon of structural reform scenarios in the areas of product and labour markets, relying on existing OECD empirical studies. Results of simulations suggest that a gradual alignment of product market regulations to best practice in a broad range of non-manufacturing sectors could boost aggregate labour productivity levels by several per cent over the next decade in many OECD countries, and by over five per cent across most of continental Europe, as well as for the BRIICS. Relaxation of job protection legislation could also raise productivity growth for a while in many OECD and non-OECD G20 countries, although the effects are estimated to be smaller than those from product market reforms. In a scenario under which they would be phased in relatively quickly, labour market reforms in the areas of unemployment benefit systems, activation policies, labour taxes and pension systems could raise employment rates by several percentage points in a number of OECD countries over a 10-year horizon. Large continental European countries would have the largest benefits to reap from reforms. The overall potential GDP gain for the average OECD country from undertaking the full range of reforms considered here might come close to 10% at a 10-year horizon, indicating the presence of ample room for structural reforms to offset the permanent GDP losses from the recent crisis
Is there a Case for Carbon-Based Border Tax Adjustment? : An Applied General Equilibrium Analysis by Jean-Marc Burniaux( )

7 editions published in 2010 in English and held by 61 WorldCat member libraries worldwide

Concern that unilateral greenhouse gas emission reductions could foster carbon leakage and undermine the international competitiveness of domestic industry has led to growing calls for carbon-based border-tax adjustments (BTAs). This paper uses a global general equilibrium model to assess the economic effects of BTAs and comes to three main conclusions. First, BTAs can reduce carbon leakage if the coalition of countries taking action to reduce emissions is small, because in this case leakage (while typically small) mainly occurs through international trade competitiveness losses rather than through declines in world fossil fuel prices that trigger rising carbon intensities outside the region taking action. Second, the welfare impacts of BTAs are small, and typically slightly negative at the world level. Third, and perhaps more strikingly, BTAs do not necessarily curb the output losses incurred by the domestic energy intensive-industries (EIIs) they are intended to protect in the first place. This is in part because taken as a whole, EIIs in industrialised countries make important use of carbon-intensive intermediate inputs produced by EIIs in other geographical areas. Another, deeper explanation is that EIIs are ultimately more adversely affected by carbon pricing itself, and the associated contraction in market size, than by any international competitiveness losses. These findings are shown to be robust to key model parameters, country coverage and design features of BTAs
The incentives to participate in and the stability of international climate coalitions : a game-theoretic approach using the witch model( )

7 editions published in 2009 in English and held by 61 WorldCat member libraries worldwide

This paper uses WITCH, an integrated assessment model with a game-theoretic structure, to explore the prospects for, and the stability of broad coalitions to achieve ambitious climate change mitigation action. Only coalitions including all large emitting regions are found to be technically able to meet a concentration stabilisation target below 550 ppm CO2eq by 2100. Once the free-riding incentives of non-participants are taken into account, only a “grand coalition” including virtually all regions can be successful. This grand coalition is profitable as a whole, implying that all countries can gain from participation provided appropriate transfers are made across them. However, neither the grand coalition nor smaller but still environmentally significant coalitions appear to be stable. This is because the collective welfare surplus from cooperation is not found to be large enough for transfers to offset the free-riding incentives of all countries simultaneously. Some factors omitted from the analysis, which might improve coalition stability, include the co-benefits from mitigation action, the costless removal of fossil fuel subsidies, as well as alternative assumptions regarding countries' bargaining behaviour
The Economics of Climate Change Mitigation : Policies and Options for the Future( )

4 editions published in 2008 in English and held by 58 WorldCat member libraries worldwide

Considering the costs and risks of inaction, ambitious action to reduce greenhouse gas emissions is economically rational. However, success in abating world emissions will ultimately require a least-cost set of policy instruments that is applied as widely as possible across all emission sources (countries, sectors and greenhouse gases). The main purpose of this paper is to explore feasible ways to meet these two basic requirements for successful future climate policies. Using a range of modelling frameworks, it analyses cost-effective policy mixes to reduce emissions, the implications of incomplete coverage of policies for the costs of mitigation action and carbon leakage, the role of technology-support policies in lowering future emissions and policy costs, as well as the incentives -and possible options to enhance them - for emitting countries to take action against climate change
A taxonomy of instruments to reduce greenhouse gas emissions and their interactions by Romain Duval( )

7 editions published in 2008 in English and held by 54 WorldCat member libraries worldwide

This paper reviews alternative (national and international) climate change mitigation policy instruments and interactions across them. Carbon taxes, cap-and-trade schemes, standards and technology-support policies (R & D and clean technology deployment) in particular are assessed according to three broad costeffectiveness criteria, their: i) static efficiency, defined to cover not just whether the instrument is costeffective per se but also whether it provides sufficient political incentives for wide adoption; ii) dynamic efficiency, which implies an efficient level of innovation and diffusion of clean technologies in order to lower future abatement costs; iii) ability to cope effectively with climate and economic uncertainties. Multiple market failures and political economy obstacles need to be addressed in order to meet these criteria. In this regard, carbon taxes or cap-and-trade schemes appear to perform better than alternatives. However, their cost-effectivenes can be enhanced through targeted use of other instruments. There is therefore room for climate policy packages
Short-term gain or pain? a DSGE model-based analysis of the short-term effects of structural reforms in labour and product markets by Matteo Cacciatore( )

1 edition published in 2012 in English and held by 44 WorldCat member libraries worldwide

The short-term effects of structural reforms an empirical analysis( )

1 edition published in 2012 in English and held by 44 WorldCat member libraries worldwide

Structural policies and economic resilience to shocks by Romain Duval( )

3 editions published in 2007 in English and held by 21 WorldCat member libraries worldwide

The role of R & D and technology diffusion in climate change mitigation : new perspectives using the WITCH model( Book )

4 editions published in 2009 in English and held by 14 WorldCat member libraries worldwide

This paper uses the WITCH model, a computable general equilibrium model with endogenous technological change, to explore the impact of various climate policies on energy technology choices and the costs of stabilising greenhouse gas concentrations. Current and future expected carbon prices appear to have powerful effects on R & D spending and clean technology diffusion. Their impact on stabilisation costs depends on the nature of R & D: R & D targeted at incremental energy efficiency improvements has only limited effects, but R & D focused on the emergence of major new low-carbon technologies could lower costs drastically if successful - especially in the non-electricity sector, where such low-carbon options are scarce today. With emissions coming from multiple sources, keeping a wide range of options available matters more for stabilisation costs than improving specific technologies. Due to international knowledge spillovers, stabilisation costs could be further reduced through a complementary, global R & D policy. However, a strong price signal is always required
What should we expect from innovation? : a model-based assessment of the environmental and mitigation cost implications of climate-related R & D by Valentina Bosetti( Book )

3 editions published in 2010 in English and held by 4 WorldCat member libraries worldwide

This paper addresses two basic issues related to technological innovation and climate stabilisation objectives: i) Can innovation policies be effective in stabilising greenhouse gas concentrations? ii) To what extent can innovation policies complement carbon pricing (taxes or permit trading) and improve the economic efficiency of a mitigation policy package? To answer these questions, we use an integrated assessment model with multiple externalities and an endogenous representation of technical progress in the energy sector. We evaluate a range of innovation policies, both as a stand-alone instrument and in combination with other mitigation policies. Even under fairly optimistic assumptions about the funding available for, and the returns to R & D, our analysis indicates that innovation policies alone are unlikely to stabilise global concentration and temperature. The efficiency gains of combining innovation and carbon pricing policies are found to reach about 10% for a stabilisation target of 535 ppm CO2eq. However, such gains are reduced when more plausible (sub-optimal) global innovation policy arrangements are considered
What should we expect from innovation? a model-based assessment of the environmental and mitigation cost implications of climate-related R&D( )

1 edition published in 2010 in English and held by 3 WorldCat member libraries worldwide

This paper addresses two basic issues related to technological innovation and climate stabilisation objectives: i) Can innovation policies be effective in stabilising greenhouse gas concentrations? ii) To what extent can innovation policies complement carbon pricing (taxes or permit trading) and improve the economic efficiency of a mitigation policy package? To answer these questions, we use an integrated assessment model with multiple externalities and an endogenous representation of technical progress in the energy sector. We evaluate a range of innovation policies, both as a stand-alone instrument and in combination with other mitigation policies. Even under fairly optimistic assumptions about the funding available for, and the returns to R&D, our analysis indicates that innovation policies alone are unlikely to stabilise global concentration and temperature. The efficiency gains of combining innovation and carbon pricing policies are found to reach about 10% for a stabilisation target of 535 ppm CO2eq. However, such gains are reduced when more plausible (sub-optimal) global innovation policy arrangements are considered. -- climate change ; environmental policy ; energy R&D fund ; stabilisation costs
The effects of EMU on structural reforms in labour and product markets( )

1 edition published in 2006 in English and held by 3 WorldCat member libraries worldwide

Will EMU accelerate or retard structural reform in labour and product markets? The theoretical literature is ambiguous. New descriptive evidence provided in this paper suggests that euro-area countries have made relatively good progress in structural reform. However, it is much less clear whether progress can be ascribed to EMU membership. To explore further the influence of monetary regime, the paper undertakes an econometric examination of the likelihood that countries undertake reform in five specific areas of labour and product market policies. Based on pooled cross-country/time series Probit regressions covering 21 countries and the period 1985-2003, it is found that structural reform is strengthened by high unemployment, crisis, healthy public finances, reforms in other policy fields and small country size. Further, countries that pursue fixed exchange-rate regimes or participate in monetary union, and therefore have little or no monetary autonomy, appear to undertake less reform with the effect possibly being concentrated on large countries
Short-term pain for long-term gain : market deregulation and monetary policy in small open economies by Matteo Cacciatore( Book )

2 editions published in 2015 in English and held by 2 WorldCat member libraries worldwide

This paper explores the effects of labor and product market reforms in a New Keynesian, small open economy model with labor market frictions and endogenous producer entry. We show that it takes time for reforms to pay off, typically at least a couple of years. This is partly because the benefits materialize through firm entry and increased hiring, both of which are gradual processes, while any reform-driven layoffs are immediate. Some reforms--such as reductions in employment protection--increase unemployment temporarily. Implementing a broad package of labor and product market reforms minimizes transition costs. Importantly, reforms do not have noticeable deflationary effects, suggesting that the inability of monetary policy to deliver large interest rate cuts in their aftermath--either because of the zero bound on policy rates or because of membership in a monetary union--may not be a relevant obstacle to reform. Alternative simple monetary policy rules do not have a large effect on transition costs
Market reforms in the time of imbalance by Matteo Cacciatore( Book )

1 edition published in 2016 in English and held by 1 WorldCat member library worldwide

We study the consequences of product and labor market reforms in a two-country model with endogenous producer entry and labor market frictions. We focus on the role of business cycle conditions and external constraints at the time of reform implementation (or of a credible commitment to it) in shaping the dynamic effects of such policies. Product market reform is modeled as a reduction in entry costs and takes place in a non-traded sector that produces services used as input in manufacturing production. Labor market reform is modeled as a reduction in firing costs and/or unemployment benefits. We find that business cycle conditions at the time of deregulation significantly affect adjustment. A reduction of firing costs entails larger and more persistent adverse short-run effects on employment and output when implemented in a recession. By contrast, a reduction in unemployment benefits boosts employment and output by more in a recession compared to normal times. The impact of product market reforms is less sensitive to business cycle conditions. Credible announcements about future reforms induce sizable short-run dynamics, regardless of whether the announcement takes place in normal times or during an economic downturn. Whether the immediate effect is expansionary or contractionary varies across reforms. Finally, lack of access to international lending in the wake of reform can amplify the costs of adjustment
 
moreShow More Titles
fewerShow Fewer Titles
Audience Level
0
Audience Level
1
  Kids General Special  
Audience level: 0.82 (from 0.65 for Short-term ... to 0.95 for Short-term ...)

Alternative Names
Romain Duval economist (International Monetary Fund (IMF))

Romain Duval Wirtschaftswissenschaftler/in (International Monetary Fund (IMF))

Languages
English (104)